How much does a CLUE report cost?

An insurance score is a number based on your credit history that is used to predict your likelihood of filing an insurance claim and costing an insurer money. Auto insurance scores, also called credit-based insurance scores, can be used to set car insurance premiums everywhere except for Massachusetts, Hawaii and California.… read full answer

The credit-scoring company FICO created the first insurance scores in 1993, and today FICO estimates that 95% of all personal insurers take insurance scores into account.

FICO scores are based on five categories:

• 40% past payment history
• 30% current level of indebtedness
• 15% length of credit history
• 10% new credit
• 5% variety of credit types

Multiple studies, including one by the Federal Trade Commission, demonstrate that the scores effectively predict risk for insurers, which is logical because individuals who responsibly handle their finances figure to be equally responsible with their cars or homes.

Where to Check Your Insurance Score

Insurance scores rely on information from your credit reports and are formulated by three main companies: FICO, LexisNexis, and TransUnion.

• FICO insurance scores range from 250 to 900.

• LexisNexis scores range from 300 to 950.

• TransUnion scores fall between 150 and 900.

In general, insurance scores of 770+ are considered good, but the specifics vary based on the type of insurance score, given the different ranges.

How to Raise Your Insurance Score

Your credit information strongly influences your insurance score, so raising your credit score can decrease your car insurance rates. You can get personalized advice on how to improve your credit score, as well as how long it will take, using the Credit Analysis feature of your free WalletHub account.

You can view your CLUE report online by going to the LexisNexis website and filling out their electronic request form. LexisNexis is the consumer reporting agency that produces CLUE reports to provide information about individuals and properties to organizations like banks and insurance companies. You can also request a copy of your report by phone, mail, or email.… read full answer

Ways to Access Your CLUE Report

1. View your CLUE report online
2. Call 866-897-8126 to request your CLUE report by phone
3. Email LexisNexis: [email protected]
4. Mail a request form to:

LexisNexis Risk Solutions Consumer Center

P.O. Box 105018

Atlanta, GA 30348-5108

Information Needed to View Your CLUE Report Online

• First and last name
• Address
• Date of birth
• SSN or driver’s license number and issuing state

What Your Report Will Include

When you request a report from LexisNexis, you receive a Consumer Disclosure Report that includes your CLUE report, real estate transactions, bankruptcy and liens records, judgement records, and past addresses. Your report details up to seven years of insurance claims history.

To learn more, check out WalletHub’s guide to CLUE reports.

Yes, insurance companies share claims history with each other using databases such as C.L.U.E., which is run by Lexis Nexis and contains claims data from more than 99% of car insurance companies. Insurers can check a driver’s claims history using C.L.U.E. if the driver wants a quote. Claims history information is important to insurance companies because drivers with a history of claims, especially at-fault claims, present more risk to insurers.… read full answer

Insurance claims databases are the industry’s equivalent of credit reports. Like credit reports, these databases are designed to provide a centralized record of a consumer’s past behavior. This information helps insurance companies decide what premium to charge based on the individual driver. But rest assured that your claims history is only one factor that goes into your premium. Insurers will also consider characteristics such as age, driving record, location, and vehicle information.

For more information on insurance claims history databases and to learn how to check your claims history report for free, check out WalletHub’s guide to C.L.U.E. reports.